Madagascar | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
Republic of Madagascar
Records
63
Source
Madagascar | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 2.91882362
1971 2.75692465
1972 2.01983258
1973 2.17224461
1974 1.47441455
1975 2.04874955
1976 1.82505265
1977 3.5500137
1978 3.41027009
1979 2.87991034
1980 2.31131856
1981 2.21318889
1982 2.89509378
1983 2.1954549
1984 2.44235763
1985 2.08800214
1986 2.80088989
1987 3.85519574
1988 4.2620903
1989 4.5286376
1990 5.13716501
1991 6.20427415
1992 5.70482651
1993 4.26807702
1994 5.43387401
1995 7.7218758
1996 6.10099854
1997 5.98372526
1998 5.71468497
1999 3.51113304
2000 3.28334073
2001 2.78738586
2002 3.50534579
2003 5.2185584
2004 6.16053834
2005 5.4655256
2006 5.62459958
2007 6.43424743
2008 5.80936538
2009 6.87903891
2010 5.80844503
2011 5.89544167
2012 6.69129717
2013 6.77436298
2014 7.17890335
2015 8.60993538
2016 8.7727719
2017 7.63973631
2018 5.16989441
2019 4.70785228
2020 5.65950525
2021 5.53118864
2022

Madagascar | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
Republic of Madagascar
Records
63
Source